For every real estate transaction, one or more legal documents are necessary to conduct the transaction. Such forms include contract of/for purchase forms, agreement of sale form, sales agreement, purchase contract, sales contract, title, and other miscellaneous forms such as transfer forms and tax forms.
In that regard, certain jurisdictions require the filing of certain forms for real-estate transactions. For example, New York City (NYC) requires that a real property tax return, a real property transfer report and a real estate tax return be filed with most real-estate transactions. In an effort to streamline the preparation and filing of such forms, NYC provides a website (ACRIS), which allows buyers/sellers to input property, grantee/grantor, legal representation, property information, as well as sales costs (“transaction information”).
However, a problem exists with such a website (such as ACRIS) in that a user must input substantially the same data for a particular transaction multiple times. Thus, there exists a need for providing functionality to allow a user to input transaction information preferably a single time, to generate one or more forms.
Moreover, in using ACRIS, for example, a user must know exactly what forms to fill out and what data is required for a particular type of property conveyed, conditions of transfer, and the like.
In addition to the above-noted real-estate example, the problem also exists for other subject areas where the generation of forms occurs, and users must input substantially the same information for each generated form.